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Oncology Venture acquires rights to shelved Novartis drug

Oncology Venture spin-out company utilizes its option to acquire the rights for a phase 3 cancer drug from Swiss Novartis.

Danish Oncology Venture utilizes a previously agreed option to take over rights to develop and commercialize the cancer drug dovitinib from Novartis. | Foto: /ritzau/Sofie Mathiassen

Danish Oncology Venture utilizes a previously agreed option to take over the rights to develop and commercialize the cancer drug dovitinib (TKI258), which was originally developed by Novartis. Now it is jointly owned the Oncology Venture owned spin-out OV-SPV2, the parent company MPI and the co-investor Sass & Larsen Aps.

This happens after an analysis of 160 biopsies from a previous phase 3 study have shown that Oncology Venture, with its technology known as Drug Response Predictor (DRP) is able to predict, which patients will benefit from treatment with dovitinib.

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